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Brown & Brown, Inc. (NYSE:BRO) is included among the 15 Best Passive Income Stocks to Buy Right Now.
On November 6, Goldman Sachs analyst Robert Cox cut the firm’s price target on Brown & Brown, Inc. (NYSE:BRO) to $90 from $105, as reported by The Fly. He kept a Neutral rating on the stock, noting in a research update that the company’s organic growth trend continues to face pressure.
On October 22, Brown & Brown, Inc. (NYSE:BRO) announced a 10% increase in its quarterly dividend to $0.165 per share. This marked the 32nd straight year of dividend growth. The company also reported that its board approved an additional $1.25 billion stock repurchase authorization as part of its disciplined approach to capital allocation. With this new approval, the company now has the ability to buy back roughly $1.5 billion of its common stock in total.
Brown & Brown, Inc. (NYSE:BRO) has built a wide national network of brokers over many years through targeted acquisitions and steady organic expansion. Its fee-based model, which brings in recurring revenue through policy renewals, is a major factor behind its long dividend track record.
Brown & Brown, Inc. (NYSE:BRO) operates within the insurance brokerage space, a part of the broader insurance industry known for offering stable and consistent returns.
While we acknowledge the potential of BRO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 15 Extreme Dividend Stocks to Buy According to Hedge Funds and 15 Overlooked Dividend Stocks to Buy Right Now.
Disclosure: None.
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